Exports of Indonesian tires and vehicle wheels to the Egyptian market are on the rise. This export potential has been further boosted with the opening of the 11th showroom of Ashrafco in Madinaty, Egypt, on 9 June. According to a post on the official Instagram account of the Indonesian Ministry of Trade @djpen.kemendag, Ashrafco is the sole agent for three Indonesian companies: PT Elang Perdana Industry (Accelera tires), PT Bangun Sarana Alloy, and PT Prima Alloy Universal (vehicle wheels). The Instagram post also highlighted that the export value of Indonesian vehicle wheels to Egypt in 2023 reached USD 2.08 million, marking a 463% increase compared to the 2022 export value of USD 370,000. The export trend of Indonesian motor vehicle components has shown positive growth, with an average annual increase of 10.06% over the past five years (2019-2023).
This momentum presents a significant opportunity for motor vehicle component businesses to expand into new export markets, diversifying their market reach. The Ministry of Trade has committed to continuously supporting the promotion of motor vehicle and component businesses through various international exhibitions and trade missions to new export destinations. This initiative aims to capitalize on the growing demand and establish a stronger presence for Indonesian automotive components in the global market, ensuring sustained growth and expanded market share.
